1/22/2002

Cambridge, Mass.-The Board of Directors of Navigator Technology Ventures, LLC (NTV), announced today the selection of Alain Hanover as Managing Director and CEO of NTV. Hanover brings to the position 30 years of experience in venture capital, executive management, software development, and engineering.

NTV is the Venture Capital subsidiary of The Charles Stark Draper Laboratory, Inc. of Cambridge, Mass. Founded in 2000, it focuses on early stage investments. With the help of Draper Lab, NTV helps innovators every step along the path to success from identifying technologies with attractive commercial potential to setting up the embryonic company and providing seed financing and arranging later-stage funding partners. NTV concentrates on intense engineered technologies, such as electronics, software, energy, MEMS, optics, RF and materials across multiple industries such as energy, biotech, telecom, IT, wireless and Internet. NTV currently has investments in Polychromix Inc. and Sionex Corp.

Gordon Baty, Chairman of NTV's Board, stated, "Alain has been an early stage investor and advisor in over 20 private companies and has a proven track record in successfully assisting early stage companies in fundraising and business development. During his tenure the past two years as Managing Partner of Main Street Partners, a seed-stage, venture capital firm, he helped launch five start-ups: IPVision, SemiDAQ, Bitpipe, SheildIP and Saoirse. His extensive operating experience will be an asset to NTV's portfolio companies."

Hanover co-founded InCert Software Corporation in 1997 and led the company as President and CEO from 1997-2000. He wrote the business plan and set the strategy for this patented software technology developer, recruited all executives, raised $15M in venture capital, and launched two products. From 1984-97, Hanover co-founded and served as President, CEO, and Chairman of Viewlogic Systems, Inc., an electronic design automation software company. He recruited the team, set the strategy and led the company since inception. He raised $16.5M of venture capital in 4 rounds and led marketing and sales growth to representation in 28 countries. He took it public in 1991 and grew sales to $150M with 700 employees when it was sold in 1997. He received the Entrepreneur of the Year Award in 1993.

From 1980-84, Hanover managed VLSI Advanced Development for Digital Equipment Corporation (DEC). He led the development of new chip set and single-chip VSLI implementations of the VAX computer as well as CAD tool development and CMOS fabrication processes enabling DEC to become a major semiconductor manufacturer.

Hanover began his career as an engineer in 1972 at the start-up Xylogics, later acquired by Dymo Graphics and subsequently by Itek. He was promoted to Director, then Program Manager. He led the software development of computer-based Automated Typesetting Systems, designed the first WYSIWIG graphics software for newspaper composition and led hardware development of CRT and Laser Typesetters. He spent one year prior to that as a technical staff member of MIT Lincoln Laboratory where he worked on the interface for the ARPANET and CAD software.

He currently serves on several corporate and non-profit boards of directors, including Applix, Inc. of Westborough; Bitpipe, Inc. of Boston; CommonAngels of Lexington, which he co-founded; InCert Software Corp. of Cambridge; the MIT Venture Mentoring Service; Mass-Connect Advisory Board, Massachusetts Technology Collaborative; Massachusetts Software & Internet Council; and the Massachusetts Innovation Index.

Hanover holds B.S. degrees in electrical engineering and mathematics from MIT; an M.S. in applied math from Harvard University; and an executive MBA/OPM program degree from the Harvard Business School.

The Charles Stark Draper Laboratory, Inc., is a not-for-profit, research and development laboratory dedicated to applied research, engineering development, education, and technology transfer. Spun off from MIT in 1973, its core work is focused on the development of innovative solutions for the Department of Defense and selected commercial sponsors. Major areas of focus include future strategic systems concepts and technologies; MEMS; precision targeting and weapons systems; autonomous air, land, space, and sea systems; information integration, dissemination, and control systems; distributed sensors and networks; biomedical engineering and chemical/biological defense.